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Nvidia Surpasses Alphabet to Become Third Most Valuable U.S. Company

As investors await its impending quarterly report, Nvidia overtook Google parent Alphabet to become the third most valued U.S. corporation, behind Ama

As investors await its impending quarterly report, Nvidia overtook Google parent Alphabet to become the third most valued U.S. corporation, behind Amazon. Nvidias superiority in AI chip technology sent its stock up 2.46%, giving it a market value of $1.825 trillion. This increase follows its recent surpassing of Amazons market capitalization. With almost 80% of the market for highend AI chips under its grip, Nvidia has seen a 47% increase in its stock price this year. Investors will keenly monitor the companys quarterly report, which is anticipated to reveal strong performance. For Nvidias January fiscal quarter, analysts see a sharp rise in sales to $20.37 billion and a sharp increase in adjusted net profit to $11.38 billion. Read More..

B2B Tech News | 1 years ago        

Reliance Industries Eyes Acquisition of Walt Disneys Stake in Tata Play to Expand Media Presence

According to reports, Reliance Industries is in talks to buy Walt Disneys 29.8% ownership of Tata Play to increase its media footprint. If the transac

According to reports, Reliance Industries is in talks to buy Walt Disneys 29.8% ownership of Tata Play to increase its media footprint. If the transaction closes, the conglomerate plans to make all of its JioCinema programming available to Tata Play subscribers. Disney has a portion in Tata Play, which gives it access to video streaming services, and bankers are now evaluating this. This partnership would be the first between Reliance and the Tata Group. Tata Plays fiscal 2023 deficit led to the companys contemplation of a $300 million Initial Public Offering IPO. Disney and Reliance have not yet responded, and Tata Play has declined. Disneys Indian businesses are valued at $3.5 billion. Reliance is close to merging its media company in India with the latter. Read More..

B2B Tech News | 1 years ago        

Uber Announces $7 Billion Share Repurchase Program Amid Record High Stock Performance

Uber Technologies shares rose to a new high as it unveiled its firstever $7 billion share repurchase programme. The decision comes after the business

Uber Technologies shares rose to a new high as it unveiled its firstever $7 billion share repurchase programme. The decision comes after the business reported its first annual net profit since going public in 2019, driven by a strong rebound in rideshare revenue and sustained demand for its food delivery service. According to CFO Prashanth MahendraRajah, the buyback is evidence of Ubers sound financial standing. Shares rose 12% as a result of the excellent reaction from investors. Ubers $3.4 billion in free cash flow for 2023 was a notable improvement, even in the face of a drivers planned strike demanding equitable compensation. Over the next three years, analysts expect Ubers gross bookings and adjusted core earnings to continue growing, interpreting the repurchase as evidence of the companys operational success. Read More..

B2B Tech News | 1 years ago        

Renesas Electronics to Acquire Altium for $5.9 Billion to Strengthen Automotive Chip Offerings

Renesas Electronics declared that it will pay $5.9 billion in cash to acquire the electronics design company Altium to improve the digital device desi

Renesas Electronics declared that it will pay $5.9 billion in cash to acquire the electronics design company Altium to improve the digital device design services it provides to clients, especially in the automotive chip industry. Renesas, wellknown for supplying chips to automakers such as Nissan and Toyota, is attempting to broaden its scope by incorporating Altiums digital circuit board design tools. Expected to be completed in the second part of the year, subject to shareholder and regulatory clearance, both boards authorised the acquisition. Following the announcement, Altiums share price increased by 28%, indicating that the market was confident about the purchase. Renesas calculated action fits in with Japans expanding outward mergerandacquisition trend, which is fueled by initiatives to improve the countrys competitiveness and supply chain resilience globally. Read More..

B2B Tech News | 1 years ago        

Lucid Group Slashes Prices of Air Luxury Sedans in Bid to Boost Demand

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10%. The cars are intended to be more competitively priced, with the Air Pure rearwheel drive starting at $69,900 and the Air Grand Touring at $109,900. The action was taken in response to a slowdown in demand for EVs, which forced manufacturers to modify their production and pricing schedules. Along with these benefits, Lucid announced that every Lucid Air purchase or lease will come with a $1,000 allowance for specific charging accessories and free regular maintenance for two years. Even with these initiatives, a slower growth rate for the worldwide EV market is anticipated in 2024 due to reduced governmental subsidies. Read More..

B2B Tech News | 1 years ago        

BRICS Countries Expected to Drive Global Wealth Growth Over Next Decade

Over the next ten years, the number of millionaires in the BRICS countries is expected to rise significantly, with their $45 trillion in investable we

Over the next ten years, the number of millionaires in the BRICS countries is expected to rise significantly, with their $45 trillion in investable wealthgenerating the most significant wealth increase globally. The BRICS group is expected to have 85% more millionaires over the next ten years, according to a survey by Henley & Partners and New World Wealth. This rise is more than that of the advanced nations of the Group of Seven G7, where a 45% increase in millionaires is predicted. With an estimated 110% increase in wealth per person by 2033, India is the leader in this wealth boom, followed by Saudi Arabia, the United Arab Emirates, China, and Ethiopia. Despite this general expansion, a few BRICS nations, including Iran and South Africa, have declined their millionaire populations since 2013. Read More..

B2B Tech News | 1 years ago        

Mining Indaba Highlights Urgent Need for Local Banks to Finance African Projects

The Mining Indaba this year made clear how important it is for regional banks to back more mining projects in Africa, especially those that foreign le

The Mining Indaba this year made clear how important it is for regional banks to back more mining projects in Africa, especially those that foreign lenders deem riskier. In 2022, Africa spent less than 10 per cent of the worldwide average on mining exploration, although possessing 30 per cent of the worlds mineral reserves. This was mainly because of challenges in obtaining money from outside sources. Local financial institutions are encouraged to fill this need as interest in African mining grows. The secondlargest bank in the Democratic Republic of the Congo, EquityBCDC, spoke with Celestin Mukeba Muntuabu, Managing Director, about his banks plans for African mining. Meanwhile, highinterest rates are anticipated to continue in 2024, burdening African borrowers even more—who spend a substantial amount of their export revenues on external debt repayment. Additionally, Tanzania faces a sugar shortage, prompting regulators to approve imports and plans to boost local production. Read More..

B2B Tech News | 1 years ago        

Digital Realty Trust Forecasts Lower Revenue for Fiscal 2024, Shares Decline

Given the uncertain economic climate, Digital Realty Trust DLR.N expects its fiscal 2024 revenue to fall short of market projections. This is because

Given the uncertain economic climate, Digital Realty Trust DLR.N expects its fiscal 2024 revenue to fall short of market projections. This is because it is spending less on data centres. In the extended trading session that followed the news, the companys shares fell 4%. Due to high financing costs, businesses favour larger data centre operators like Equinix EQIX.O, affecting demand for smaller competitors like Digital Realty. Known for renting out managed data centres for various industries, Digital Realty and Blackstone BX.N partnered to create data centres for $7 billion last year. Despite missing projections with its fourthquarter sales of $1.37 billion, Digital Realty is nevertheless upbeat about its funds from operations, which rose to $1.53 per share from $1.45 per share in the previous year. Read More..

B2B Tech News | 1 years ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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